Add a New Product

Zumzum Financials Knowledge Base

Add a New Product

The first thing to enter is the Product Name. This is simply the retail name of the item.

The next step would be to choose the Product Family, the product family is a group of related products usually manufactured by a single company.

The next step is to create a Product Code, the product code is a unique identifier for the product, it is also used to quickly reference your product in other records so make it short and easy to remember.

In the Cost Price field, enter the cost of the product.

Choose the Quantity Unit of Measure, choose how many items or services are included in the product. You can add your own Quantity Unit of Measures.

Now choose the default Currency for this product, in the Standard Price related list you can assign a default price in the different currencies

In the Product Description information on what the item does, or what is included in the service

Ensure you mark the product as “Active” and add to a price book

Set Product Default values for

Supplier

Default Sales Nominal Account

Default Purchase Nominal Account

Default Tax Code for Sales

Default Tax Code for Purhcasing

Select “Stock Product” you wish to manage inventory against this product.

Select “Serialised” if you wish to track individual units of inventory with a serial number